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Sir John Peace, Chairman of Experian, Councillor Jon Collins, Leader of Nottingham City Council

Welcome to this special supplement about The Nottingham Growth Plan.

We are in the midst of what will, for many people, be one of the most challenging economic periods of their lifetime. Coming so soon after a long run of unbroken growth and prosperity, it's been a shock to the system.

This shock has raised questions about the shape of our economy globally, nationally - and right here in Nottingham. How can it provide the jobs and growth that we need in the future?

The Nottingham Growth Plan is the response. The result of a ground-breaking collaboration between public and private sector, it analyses the city economy, highlights the challenges it faces, and identifies the steps all city stakeholders must take to achieve sustainable, long-term growth for us all.

We have much to be proud of in this city. Some of the most well-known names in British industry were born here, and they made Nottingham a great industrial city during the 20th century.

But some of the employers and industries we once took for granted are gone for good. The Nottingham economy has become heavily dependent on jobs in the service sector and the public sector, and it needs a greater variety of businesses selling into national and international markets and offering wider opportunities for people.

While the Nottingham Growth Plan outlines clear challenges, it also suggests that the foundations are there for progress. We have two universities of national and international standing – real talent factories whose ideas and people could fuel new business and new growth. We have a national reputation for our work in life sciences and clean technology - knowledge industries which will shape the world we live in. And we have identified a number of young, vibrant businesses working in creative and technology sectors who can be at the heart of the emergence of an important new sector in the Nottingham economy

Our city also has a young population, and it is vital we harness this resource and, from school age onwards, equip it with skills relevant to the economy of a 21st century international city. We need our young people to be furnished with opportunities and purpose, to have the skills that will transform them into an engine for growth – to be a reason for business to come to Nottingham and thrive.

Nottingham is already hard at work putting in place the infrastructure that will help people and businesses move better and faster. The scale of the investment in the tram network, in a transport interchange and in technology infrastructure is unprecedented – and unrivalled in many of our competitor cities at home and abroad.

This plan seeks to build on those foundations, to raise skills, aspirations and the spirit of enterprise. It seeks to remove the barriers to growth, to overcome the hurdles that stand in the way of individual attainment and opportunity.

The measures we will take are summarised in these pages. Some require small steps, others bold changes. At the heart of the Nottingham Growth Plan is a long-term effort that will not be easy.

But we believe it represents the key to prosperity for generations to come. The work must start now.